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Jan 13, 2013
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you said the deficit we should focus on is the jobs deficit. >> is our biggest deficit, the jobs deficit. if you get people back to work, they are carrying -- paying their fair share of taxes. the treasury is receiving revenue. if the treasury is renewing -- is receiving more revenue, the deficit shrinks. we can grow the economy. the best way to do that is to put american, middle-class workers back to work. to me, every time you talk about stifling the economy through these very aggressive cuts to services and earned benefits, you are not helping the economy grow. the jobs deficit, to me, is the biggest deficit we face. but we have a lot of other challenges. social security medicare are among bashar not among the most immediate challenges. if you ash social security and medicare are not among the most immediate challenges. we have paid some $15 trillion in payroll tax to take care of social security benefits. how much have we actually used in benefits received by all americans? $14 trillion. we have a one dollar trillion -- $1 trillion in cash. all the trillions of dollars we have paid t
you said the deficit we should focus on is the jobs deficit. >> is our biggest deficit, the jobs deficit. if you get people back to work, they are carrying -- paying their fair share of taxes. the treasury is receiving revenue. if the treasury is renewing -- is receiving more revenue, the deficit shrinks. we can grow the economy. the best way to do that is to put american, middle-class workers back to work. to me, every time you talk about stifling the economy through these very...
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Jan 13, 2013
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he's a liberal deficit hawk. he's got very strong views on the safety net and funding of government but he really does believe in doing what can be done to reduce deficits ?ee.'s coming at that time beginning of president obama's second term. second terms are rough. they eventually lead into lake duckery. people jump ship who are working for him. sew needs a strong group to handle the deficiencies that are inherent in a second term. you understand me? >> i understand. i think that's right. >> now, is lew the guy that can do this for him? can he protect him and keep him alive in the sense of politically alive, of course, and keep him vibrant as president? >> look, up to a degree, he can do that. but ultimately still most of the major policy is at the desk of the president. when he said that he was the man who was responsible for three surpluses under bill clinton, let me tell you, bill clinton had three different programs to reduce the budget deficit and bring about that. so it was a presidential decision. it's no
he's a liberal deficit hawk. he's got very strong views on the safety net and funding of government but he really does believe in doing what can be done to reduce deficits ?ee.'s coming at that time beginning of president obama's second term. second terms are rough. they eventually lead into lake duckery. people jump ship who are working for him. sew needs a strong group to handle the deficiencies that are inherent in a second term. you understand me? >> i understand. i think that's...
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Jan 15, 2013
01/13
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the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of view. the president yesterday talked about having balance had a thing for us democrats, that's the key. there has to be a mixture of spending cut and further revenue. and we need that balance for three reasons. number one, in order to promote economic growth. in my judgment, it followed that comes from cuts in programs, and i will accelerate economic growth. the second reason relates to income inequality. there has been a startling change in the last 20 years really. the middle-class has essentially been stagnant in the figure really is in 2010, 93% of income growth w
the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of...
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Jan 16, 2013
01/13
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is the deficit gone completely at this point? >> the budget is fixed. i inherited a $27 billion deficit. that's what it was two years ago. that's gone. this budget will be balanced. nois i safe from y contingency? no, the world is changing and turbulent. is it going to get worse? then we'll get less money. number two, the federal government often blocks budget reduction that we make in the social services. sometimes we win. sometimes we lose. number 3 we're going to be part of the health care act, president obama's health care plan by expanding our medi-cal program to low-income families. he is promising 100% of the co cost. now, wh if, because of the cliff negotiations and the debt, maybe they'll renege on that. >> reporter: you're being kind of careful here. >> what i'm saying is that people need to understand that a budget is like a piggy bank. the money is in there. no, the money comes in every sniesm day and the spending goes out every day. we are in a position for the first time in 15 years where we can say this year's budget will be balanced and
is the deficit gone completely at this point? >> the budget is fixed. i inherited a $27 billion deficit. that's what it was two years ago. that's gone. this budget will be balanced. nois i safe from y contingency? no, the world is changing and turbulent. is it going to get worse? then we'll get less money. number two, the federal government often blocks budget reduction that we make in the social services. sometimes we win. sometimes we lose. number 3 we're going to be part of the health...
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Jan 13, 2013
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jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow up, you voted early, i was watching the board. you voted early. you didn't vote to see if it was going to pass and then vote no. was the idea that obama kind of lost some leverage there that you wanted to see it fail because obama now has to go back to the debt ceiling and he doesn't have the benefit of tax cuts looming? >> i knew it was going to pass. after the republicans walked away from the negotiations and then tried to plan b by speaker republican speaker bane thear failed where republicans wouldn't support t
jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow...
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Jan 13, 2013
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we have no sustainable deficit. you say on the order of 3% of gdp, we make tough choices to identify more than a trillion dollars in savings. two-thirds from spending reductions. where does the other third come from? as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that would reduce -- >> a significant portion does come from tax increases. >> a third. >> you have a statement about federal-billion pay freeze. i find this to be terribly disingenuous. when barack obama took office to now, we have 145,000 additional federal workers. to suggest pay has been frozen is not an accurate statement. their increases and bonuses and others, we've dramatically increased the federal payroll. the budget being proposed, when you say pay freeze, does that mean expenditures on payroll will go up or stay the same? >> it means people
we have no sustainable deficit. you say on the order of 3% of gdp, we make tough choices to identify more than a trillion dollars in savings. two-thirds from spending reductions. where does the other third come from? as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that...
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year that's a huge number being has the ten biggest deficit on the planet of any.
year that's a huge number being has the ten biggest deficit on the planet of any.
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promises and want to cut the growth of two or should it over the next three years we've got to cut the deficit by four trillion dollars over the next january so long as i'm commander in chief we will sustain the strongest military the world has ever known along with the pledges comes the threat of another devastating war in the middle east for four years president obama pushed to a great extent by israel has war with iran and i will take no options off the tape and i mean what i say. some believe the appointment of chuck hagel as defense secretary who is known to have been against the strike on iran may be a sign that the new obama administration will be less warmongering towards the word but two of the country's leading middle east experts orange convinced vision i would bet a certain amount of money we will hear the words all options are on the table come out of his come out of his mouth in addition to the point that we have the appointment of john brennan at the cia who i think is someone who the israelis are just fine with who will continue what many of the covert programs of course are dr
promises and want to cut the growth of two or should it over the next three years we've got to cut the deficit by four trillion dollars over the next january so long as i'm commander in chief we will sustain the strongest military the world has ever known along with the pledges comes the threat of another devastating war in the middle east for four years president obama pushed to a great extent by israel has war with iran and i will take no options off the tape and i mean what i say. some...
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deficit and to shut down the guantanamo bay detention center by his ideas that she can only force there are even more pledges he's not addressed. it's generally thought that a second term six u.s. presidents free walks those handcuffs that kept them from doing great things in their first term because they had to think about getting reelected all the time in the last four years we've heard many times president obama's hands are tied on this issue word that issue suppose this election has on tied his hands we don't have a crystal ball to tell you what he's going to do with those three presidential hands but we may already see signs of what is to come. president obama steps into his second term carrying a heavy load of promises along with the. threat of another devastating. for four years president obama pushed to a great extent by israel. war with iran i will take no options off the tape and what i see. is that some believe the appointment of chuck hagel as defense secretary who is known to have been against a strike on iran may be a sign that the new obama administration will be less war
deficit and to shut down the guantanamo bay detention center by his ideas that she can only force there are even more pledges he's not addressed. it's generally thought that a second term six u.s. presidents free walks those handcuffs that kept them from doing great things in their first term because they had to think about getting reelected all the time in the last four years we've heard many times president obama's hands are tied on this issue word that issue suppose this election has on tied...
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Jan 14, 2013
01/13
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we'd be looking at deficits. >> $6 billion to $8 billion. >> yes. basically what we have in this budget proposal, what the governor's put forth is essentially $4.1 billion more just to k-12 and higher education. breaks down roughly to about $1 billion to higher ed and $2.7 billion more going in in this forthcoming budget year for k-12. that money and the money that has been, has shored up this year's figures would be gone. it would not be there. and we'd be at the historic low spending that we have had for years. frankly, you know, he's contemplating having $2,700 more state funding per student by 2016-2017. we've been on the decline for that for years. we're somewhere down around 4 44t9th in per student state spending. this is going to lift us out of the pit. >> it has potential. people are looking the at this potential and say this could be the real deal but we have to wait to see the real numbers. >> exactly. >> it has been praised by a lot of people. >> from both sides of the aisle. >> both sides. the good news there, there's more good news, rig
we'd be looking at deficits. >> $6 billion to $8 billion. >> yes. basically what we have in this budget proposal, what the governor's put forth is essentially $4.1 billion more just to k-12 and higher education. breaks down roughly to about $1 billion to higher ed and $2.7 billion more going in in this forthcoming budget year for k-12. that money and the money that has been, has shored up this year's figures would be gone. it would not be there. and we'd be at the historic low...
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Jan 21, 2013
01/13
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it is the congress decides how big the deficit will be but the president has to work with congress. we need more revenue and we need to drive down spending. i think the president understands that and he is working on this but he cannot do this alone. >> looking forward to the next four years, do you see an america that is retreating? >> i see an american -- an america that is moving to asia. the america they are focusing on asia but have not forgotten about europe and our new allies, and this is an america that is still concerned about issues in the middle east and other parts of the world. but america cannot do everything for everybody. if you think america will become isolationist, that will not happen. >> the world has such high expectations for this president. his single biggest problem was said to be high expectations. >> does any politician ever meet all of the campaign expectations. you come in with an agenda and you do the best that you can. you will succeed on some issues and you will not succeed and there will be a tie on some issues. and the president understands with the
it is the congress decides how big the deficit will be but the president has to work with congress. we need more revenue and we need to drive down spending. i think the president understands that and he is working on this but he cannot do this alone. >> looking forward to the next four years, do you see an america that is retreating? >> i see an american -- an america that is moving to asia. the america they are focusing on asia but have not forgotten about europe and our new...
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Jan 20, 2013
01/13
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, deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took -- why he took the actions he took in that very pear rillous time -- perilous time for him politically. but i also explained how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory, after he took that big hit in 2010, he had a theory that he could make the 2012 race a choice not just between him and mitt romney, but a choice between different ideologies, different approaches to government, between different sets of visions and values. and everything he did, um n that time frame he kept trying to tether to this big idea he had about a choice. and when i wrote
, deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took -- why he took the actions he took in that very pear rillous time -- perilous time for him politically. but i also explained how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory, after he took that big hit in 2010, he had a theory that he could make the 2012 race a choice not just between him and...
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Jan 13, 2013
01/13
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we are having more deficit. again because the problem isn't about taxes. it's about spending. republicans have to have campaign communications, strategy, like chinese water torture. it has to be drip, drip, drip. the american people are not dumb. but they need to hear over and over what they already know deep in their hearts. their family can't spend itself rich and the government can't spend itself rich. >> shannon: we will see all of those things coming down the pike, how the public views it and how lawmakers will respond to the problem. always good to see you. happy new year. >> happy new year to you and your viewers. the debate is rapid fire as lawmakers weigh in on deadly weapons and our constitutional rights. >> the likelihood is that they are not going to be able to get a assault weapon ban. >> taking away the rights of law-abiding citizens will not stop a deranged individual or a criminal. >> someone can walk into a wal-mart, buy a shopping cart full of ammunition, walk out, pay, no questions asked. >> shannon: very different views on an issue taking center stage. the
we are having more deficit. again because the problem isn't about taxes. it's about spending. republicans have to have campaign communications, strategy, like chinese water torture. it has to be drip, drip, drip. the american people are not dumb. but they need to hear over and over what they already know deep in their hearts. their family can't spend itself rich and the government can't spend itself rich. >> shannon: we will see all of those things coming down the pike, how the public...
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Jan 18, 2013
01/13
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we have an education deficit, we have a skill development deficit that is closely related to education, we have an infrastructure development and repair deficit of e enormously important proportions, and you need only look at the experience of other countries coming out of the recession including countries with very different political systems than ours to see the close relationship that infrastructure investment development has on the likelihood and the pace of recovery from a severe global downturn. we also have an important and urgent need to address the issue of energy independence, an opportunity that more than ever before is sitting right in front of us ready to be advanced in the next year or two. but again, it requires leadership and initiative in washington and immigration reform, again, a subject that was discussed before. one more word, finally, about the process. and for this i kind of go back to a much earlier part of my life when i was a professor or of law at columbia, and one of the summits i taught -- subjects i taught every year was negotiation, negotiation in a varie
we have an education deficit, we have a skill development deficit that is closely related to education, we have an infrastructure development and repair deficit of e enormously important proportions, and you need only look at the experience of other countries coming out of the recession including countries with very different political systems than ours to see the close relationship that infrastructure investment development has on the likelihood and the pace of recovery from a severe global...
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Jan 16, 2013
01/13
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deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal retiree who have 50% longer retirement than encouraging 1895. so this is a serious issue. currently the social security retirement is a pay-as-you-go system that provides for and no benefits and tax collects. this will lead to insolvency, particularly with the increasing number of baby boomers retiring every day is referred to by maia and lewis. others news, nor do i have the program make expertise necessary to suggest solutions, it's important that congress and allies acceptable methods to assure that these programs to retirees. reforms
deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal...
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bit embarrassed about this whole episode he tried that he looks like a very tough guy he looks at the deficit in a lot of the cold respects however how tough you are but he tried not to tell anyone and eventually his wife found out through from journalists we managed to get hold of ourselves earlier here's what he had to say when i fell out i only had parents slippers and t. shirt i ran for seven kilometers i didn't curse money tap and i just saw the train was gone so i came quickly to my senses and started running so that i didn't freeze i ran on the railway track for about twenty or thirty minutes when i go to the nearest station their eyes popped out after they saw a man with almost no clothes on women there quickly gave me tea and reported what just happened i didn't tell this to anybody my wife found out about the incident only after journalists called her. so i would imagine that he got a rather difficult phone call from his wife have to see found that he had been in the situation and trying to keep it secret from i was going to favor any fall out at home because the earth's any kind of
bit embarrassed about this whole episode he tried that he looks like a very tough guy he looks at the deficit in a lot of the cold respects however how tough you are but he tried not to tell anyone and eventually his wife found out through from journalists we managed to get hold of ourselves earlier here's what he had to say when i fell out i only had parents slippers and t. shirt i ran for seven kilometers i didn't curse money tap and i just saw the train was gone so i came quickly to my...
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wrong is the current problem of very high debt and combined with high deficits. do there's a large part to the great shock of that recession the. global slowdown starting in two thousand and eight and they became the victims of it now. it isn't the creation of the euro that caused the problem so much because before the euro came into being countries they could lee had a hundred twenty percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine hundred forty five percent so they let there's a lack of fiscal discipline all and a movement to the left in europe big spending and on. and social projects that couldn't keep going it's no longer now europe also has a static population in some cases declining population and so you have more aged people more pension and bills to pay and fewer people to work to pay them. it created a big problem when the shot came but when you talk about dadt i mean there are i think two points to make because first of all has always been plagued with debt. reg its budget deficit in order t
wrong is the current problem of very high debt and combined with high deficits. do there's a large part to the great shock of that recession the. global slowdown starting in two thousand and eight and they became the victims of it now. it isn't the creation of the euro that caused the problem so much because before the euro came into being countries they could lee had a hundred twenty percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine...
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Jan 15, 2013
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we don't have that kind of capability in the federal government to add the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is? >> guest: technology aspect is manifold. and price performance improves every 18-24 mocks. in the last year we have gotten into the innovation cycle in batteries so by the end of 2020 electric vehicles will actually be price competitive with grass-driven cars. the problem with these things is that we can't wait. we can't wait because of the environmental effects and we can't wait because we need the economy to grow quickly right now. so the book lays out a whole bunch of different ideas for bringing private investment much more quickly into the job of rebuilding the power grid. >> host: on this show, a series on the international power plant, and he doesn't necessarily agree that the internet is completely green or is terribly green. what is your thought? >> guest: he is right about that. people say that data centers in
we don't have that kind of capability in the federal government to add the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is? >> guest: technology aspect is manifold. and price performance improves every 18-24 mocks. in the last year we have gotten into the innovation cycle in batteries so by the end of 2020 electric vehicles will actually be price...
SFGTV: San Francisco Government Television
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Jan 19, 2013
01/13
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supervisor chu: we know that our budget deficit is a significant one. at the moment, blooms are around $380 million -- at the moment, it looms around $380 million. we could not meet that gap. i think the city needs to take a balanced approach, and if you take a look at previous years, we have taken a look at things like where are fee revenues, what do those look like? where are the changes in other revenue pictures, whether it is transfer tax or hotel tax or other things that help to improve the picture. in addition to that, how is it that we can really control some of our expenses? i think that in order to address the $380 million budget deficit, we really have to take a look at both sides, revenue side as well as the cost side of things, and i think there are certain things that the city can do right now that might that not impact this year's budget or -- that might not impact this year's budget for next year's budget but will have a long-term effect. i mean pension reform and some of the ways we calculate those liabilities. those will be important to
supervisor chu: we know that our budget deficit is a significant one. at the moment, blooms are around $380 million -- at the moment, it looms around $380 million. we could not meet that gap. i think the city needs to take a balanced approach, and if you take a look at previous years, we have taken a look at things like where are fee revenues, what do those look like? where are the changes in other revenue pictures, whether it is transfer tax or hotel tax or other things that help to improve...
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Jan 14, 2013
01/13
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the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second, about a couple of critsims. one longstanding, another more recent. the longstanding one seems to become a truism of sorts that you and your staff are too insular. that you don't socialize enough. and the second, more recent criticism that your team taking shape knit diverse, isn't as diverse as it could be or even was in terms of getting additional voices, gender, race, ethnic diversity. i would like you to address both of those. >> let me take the second one first. you know, i'm very proud in the first four years we had as di
the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second,...
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Jan 19, 2013
01/13
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CNN
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that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the bills that are already incurred by your democratically elected congress. now that we've hit the debt limit, exceeded it a little bit, the treasury has two options. they can fiddle around with $200 billion the way you would if you're a little short on your monthly bills, paying some now, refinancing a little bit. that would get us through mid-february to early march. once that stops working the treasury needs to rely on the cash it has on hand and the revenue that comes in each day from taxes. problem is there isn't alw
that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the...
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Jan 17, 2013
01/13
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impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer retirement than had occurred in 1995. this is a very serious issue. currently the social security retirement is a pay-as-you-go system that provides more annual benefits than the payroll tax collectors. if left alone, this eventually will lead to insolvency particularly with the rapidly increasing number of baby boomers retire in every day as was referred to by maya and louis. there isn't time today nor do i have the proven expertise to suggest specific solutions it's important that the contras and the administration analyze acceptable me
impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer...
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Jan 15, 2013
01/13
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it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it is not as concerning as it was when you raised the term initially? >> as i said, the fiscal cliff, if al
it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that...
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Jan 14, 2013
01/13
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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Jan 15, 2013
01/13
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president obama said he is open to discussing deficit reductions, but only after congress first pay this bills that the country already owes. >> the federal government takes a larger chunk of paychecks. that's because during the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so warmer weather on the horizon, it's not going to be here in time for tomorrow morning. tomorrow morning very cold once again. lows sinking back into the 20s and 30s. if you're just joining us,
president obama said he is open to discussing deficit reductions, but only after congress first pay this bills that the country already owes. >> the federal government takes a larger chunk of paychecks. that's because during the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125...
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Jan 14, 2013
01/13
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i think a lot of what they complain about with respect to us, for example, our large fiscal deficits, one example, i think it would be in our interest to deal with. similarly, a lot of what we complain about with respect to them, their export-driven strategy, the absence of domestic demand, it's critically important to have sustainable growth going forward to deal with that issue. so i think we have a common self interest in dealing with many of the issues that we complain to each other about. >> what should be the core elements of a u.s.-china relationship going forward? >> the core elements of a cooperative u.s.-chinese relationship is in many respects in the communique by presidents obama and jintao of china, itemizing and developing several ears to be koob rating because it sets a framework, a framework in which the word partnership is really given meaning and a framework for something unprecedented in the history of human affairs, namely, when two major powers arise, they almost never collide. for the first time in history, america and china have the opportunity to avoid that, to
i think a lot of what they complain about with respect to us, for example, our large fiscal deficits, one example, i think it would be in our interest to deal with. similarly, a lot of what we complain about with respect to them, their export-driven strategy, the absence of domestic demand, it's critically important to have sustainable growth going forward to deal with that issue. so i think we have a common self interest in dealing with many of the issues that we complain to each other about....
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Jan 15, 2013
01/13
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KICU
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president obama said he is open to discussing deficit reductions, but only after congress first pay this bills that the country already owes. >> the federal government takes a larger chunk of paychecks. that's because during the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so warmer weather on the horizon, it's not going to be here in time for tomorrow morning. tomorrow morning very cold once again. lows sinking back into the 20s and 30s. if you're just joining us,
president obama said he is open to discussing deficit reductions, but only after congress first pay this bills that the country already owes. >> the federal government takes a larger chunk of paychecks. that's because during the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125...
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Jan 16, 2013
01/13
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it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that it's not as concerning as it was when you raised that term initially? >> as i said, the fiscal cli
it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that...
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Jan 15, 2013
01/13
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assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in the right way. >> dan gross, thanks for coming. >> thank you. >>> next, developing news this afternoon on the latest sandy aid bill before congress. a house vote is expected tonight but there's plenty of opposition and maybe for good reason. we're spinning as "the cycle" rolls on for tuesday, january 15th. hey sis, it's so great to see you. you, too! oh, cloudy glasses. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, casc
assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in...
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Jan 16, 2013
01/13
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the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right. i think that makes it very difficult to handle the problems that we have before us. let me comment briefly on where we are. you offer the president yesterday. we have had spending cuts of a trillion and a half dollars. it comes from the budget control act. we have a trillion and a half of spending cuts. essentially in terms of deficit reduction, and has over 600 billion. the account interest, we have essentially of a deficit reduction of $2.5 trillion. the president set a goal of an additional $1 trillion in deficit reducti
the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right....
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Jan 15, 2013
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extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a very serious issue. currently, the social security retirement is as a pay as you go system that provides more annual benefits than the payroll tax collects. if left alone, this eventually will need to insolvency, particularly with the rapidly increasing number of baby boomers who are retiring every day as was referred to by mya and louis. i don't have the programmatic expertise to suggest the right solutions, but it's important to analyze the acceptable message to assure that these programs can be available to future retirees
extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a...
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Jan 20, 2013
01/13
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FBC
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if you are truly a deficit buster, you actually should be for it. it is not going to happen. >> i will argue with the mathematics in a minute. morgan, the fact is that we knew we weren't going to get a full blown government-run health care system. we are going to inch our way into it. isn't that what is happening? obamacare what we saw passed a couple years ago was just the beginning of full blown government takeover health care. >> well, i do think rick makes a good point by saying it is unlikely this public option is going to happen. but i'm gonna jump on this idea of funky mathematics. this hundred billion dollar plus number that is getting thrown around is from a 2009 congressional office report. and then in 2010 the number was more like $68 billion. two different programs. and i think that is the big issue with the public option. there are so many if's and questions about whether this would make money or lose money. one of the biggest things being whether subsidees will be involved. >> mike, let's just pull back for a second. when government ta
if you are truly a deficit buster, you actually should be for it. it is not going to happen. >> i will argue with the mathematics in a minute. morgan, the fact is that we knew we weren't going to get a full blown government-run health care system. we are going to inch our way into it. isn't that what is happening? obamacare what we saw passed a couple years ago was just the beginning of full blown government takeover health care. >> well, i do think rick makes a good point by saying...
SFGTV: San Francisco Government Television
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Jan 15, 2013
01/13
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four years ago we had a 500 million dollar budget deficit, that would affect services for people all over san francisco; we would have to pay more for services and have services cut; where we needed it most. i felt the first year as chair of the budget committee, i learned so much about my abilities and how to make difficult stands on issues, and how to have working relationships with people going forward. i work closely with the mayor's office and with organizations across the city. in spite of difficult choices i feel i made the right choices; i always voted with my conscience and i'm proud of that. i'm excited to see the changes happening in district 11. four years ago we were really shaken hard by the high level of violence and homicides in our district. what was great to see in district 11 were places where there was a focus of some of the violence; neighbors came together and made the neighborhood stronger, particularly around athens street, you have a beautiful community garden there, at athens and avalon that will be dedicated in a couple of weeks now. we have a new neighbor
four years ago we had a 500 million dollar budget deficit, that would affect services for people all over san francisco; we would have to pay more for services and have services cut; where we needed it most. i felt the first year as chair of the budget committee, i learned so much about my abilities and how to make difficult stands on issues, and how to have working relationships with people going forward. i work closely with the mayor's office and with organizations across the city. in spite...
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Jan 14, 2013
01/13
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult, if everybody comes to the conversation with an open mind and if there's some things like paying our bills should not be out of bounds. i'll take one last question. >> mr. president, i would like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's long-standing, another more recent. the long-standing one seems to become a truism of sorts, that you and your staff are too insular, that you don't socialize enough. and the
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been...
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Jan 21, 2013
01/13
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CNBC
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i mean, america still has got to deal with its deficit. okay. we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in the private sector, which needs to be fluffed off. there's a deraef raejing that you've been seeing right across the western world is still going to go on, i think, for the best part of this decade. >> and we heard leading up to this election that rarely has a u.s. president been elected with such high levels of unemployment. what was different this time? >> oh, i think it had something to do with the candidate he was facing not being able to energize the public. but i also think, look, reflatio
i mean, america still has got to deal with its deficit. okay. we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there...